PUNE, India | 15th December 2020: The global online recruitment software market was valued at US$ 1071.44 Mn in 2019 and is anticipated to witness a compound annual growth rate of 5.9% over the forecast period.
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- Applicant tracking systems is among the most prominent solutions adopted by corporates globally. Estimates indicate that about 90% of the large enterprises and 68% of the small and medium businesses (SMBs) have incorporated these solutions to ensure structured hiring procedures. The automation of the processes along with increase in level of efficiency has encouraged its implementation across SMBs.
- Cloud-based online recruitment solutions is gaining momentum in the global online recruitment software market. Functional benefits such as ease of accessibility and deployment along with economic benefits in terms of limited capital investment is contributing towards the segment’s growth, globally.
- Integration of artificial intelligence (AI) technologies into online recruitment software is accelerating its adoption across enterprises and recruitment agencies. AI enabled online recruitment solutions enable organizations to automate the recruitment process, increase the rate of quality hiring, and minimize execution of repetitive tasks thereby economizing the entire recruitment operation.
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- Application based online recruitment solutions is gaining popularity across the end users in the global online recruitment software market. The comprehensive features offered in the mobile applications such as planning and scheduling interviews, contacting candidates and updating real-time status of the candidate on the tool, enabling seamless coordination within the team is fueling its adoption across the end users.
- The outbreak of Covid-19 pandemic has revolutionized the hiring process, globally. Organizations are increasingly deploying virtual solutions to conduct recruitment drives while simultaneously ensuring compliance with social distancing protocols.
- Some of the players operating in the global online recruitment software market are Bullhorn, Inc., ClearCompany, Cornerstone, CVViZ Softwares Pvt Ltd, Greenhouse Software, Inc., iCIMS, Jobsoid Inc., Lever, Oracle, Recruiterbox Inc, SAP SE, SmartRecruiters, SumTotal Systems, LLC, Talentpool, Talentsoft, Ultimate Software, Workday, Inc., Zoho Corporation Pvt. Ltd., and other market participants.
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